Walkthrough: Setting up rental agreement with already closed invoice periods

Contract Management for Drink-IT  •  Article  •  4/23/2025  • 

For instance, for migration purposes we need to consider the following.

Our customer 20000, Selangorian Pub is renting a beer tap installation for five years at $150 per month, starting on the 1st of January 2022. We are starting with registration of our rental agreements on the 1st of March 2025 and the history is already invoiced in another system and needs to be excluded to be invoiced again.

Register the rent category

To register the rent category, follow these steps:

  1. Select the Search icon , enter Rent Categories, and then choose the related link.
    The Rent Categories list page opens.
  2. On the action bar, select New.
  3. In the Code field, enter TAP.
  4. In the Description field, enter Beer Tap Installation.
  5. In the Type field, select Rent.
  6. In the Invoice Period field, select Month.
  7. In the Rent Category Account field, select 4030020.
  8. Close the list page.

Set up the rental agreement

To set up rental agreement, follow these steps:

  1. Select the Search icon , enter Rental Agreements, and then choose the related link.
    The Rental Agreements list page opens.
  2. On the action bar, select New.
  3. On the General FastTab, in the Description field, enter the explanatory text.
  4. In the Starting Date field, select 1/1/2022.
  5. In the Ending Date field, select 12/31/2026.
  6. In the Source Type field, select Customer.
  7. In the Source No. field, select 20000.
  8. On the Rent Lines FastTab, in the Rent Category field, select TAP.
    The corresponding Description, Invoice Period, Staring Date and Ending Date field values are inherited from the Rent Categories page entered for the selected code, TAP.
  9. In the Quantity field, enter 1.
  10. In the Unit Price field, enter 150.

Create the invoice buffer

To create the invoice buffer, follow these steps:

  1. On the Rental Agreement page, on the action bar, select Create Invoice Buffer.
  2. In the Closing by Date field, select 03/01/2025.
  3. Select OK.
  4. Open the Rent Invoice Buffer page.

    The rent invoice buffer is created for the customer 20000 with the invoicing period between 01/01/2022 to 12/31/2026 with the unit price of 150.

For the rent invoice buffer entries between 01/01/2022 and 03/01/2025, the Invoice Status field value is set to Closed Manually.

For the entries between 04/01/2025 and 12/31/2026, the Invoice Status field value is set to New.

Create the rental invoice

To create the rental invoice, follow these steps:

  1. On the Rental Agreement page, on the action bar, select Create Rent Invoices.
  2. In the Invoice to Date and Posting Date fields, select 07/01/2025.
  3. Select OK.

    The sales invoice is created and opened for the customer on the rental with the invoicing period between 06/1/2025 to 07/01/2025 with the unit price of 150.
  4. Close the Sales Invoice page.
  5. Open the Rent Invoice Buffer page.

    For the rent invoice buffer entries between 06/01/2025 and 07/01/2025, the Invoice Status field value is set to In Progress.

    For the entries between 08/01/2025 and 12/31/2026, the Invoice Status field value is set to New.